Insurers Cathay Life, Taiwan Life commit $94m to US-based PE funds

Taipei City, Taiwan. Photo by Tom Ritson on Unsplash

Cathay Life Insurance, the insurance subsidiary of Taiwanese conglomerate Cathay Financial Holdings, and Taiwan Life Insurance, owned by CTBC Financial Holding, have committed a total of $94 million to two US-based private equity funds.

In stock exchange filings, Cathay Life disclosed that it has agreed to commit €60 million ($64 million) to a new fund launched by Advent International, a global PE powerhouse that manages $88 billion.

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